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SWIFT did not monitor weak security practices of its users – report

19
Aug
2016
SWIFT did not monitor weak security practices of its users – report

swift

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has a history of failing to address security incidents involving clients of the financial messaging company, according to a Reuters report.

More a dozen current and former board members and senior employees, including an executive who was SWIFT’s CEO for fifteen years, told Reuters that the company did not consistently oversee or attempt to improve poor security practices of its clients.

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